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22 Old Fulton Street

Avdoo & Partners Development Leases Retail Space To Overgreens At 22 Old Fulton Street Brooklyn
LEASEDRetail

Avdoo & Partners Development Leases Retail Space To Overgreens At 22 Old Fulton Street Brooklyn

22 Old Fulton Street

$250

$250/SF

Building Size

1,350 SF

Asset Type

Retail

Closing

Jan 6, 2025

AI

The property asset involved in this transaction is a retail space located at 22 Old Fulton Street in Brooklyn. The leased area measures 1,350 square feet, with an asking rent of $250 per square foot. The lease is a Modified Gross Lease, with a term set for 10 years.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $250/ft
  • Square Footage: 1,350
  • Address: 22 Old Fulton Street
  • Market: Brooklyn
  • Landlord: Avdoo & Partners Development
  • Tenant: Overgreens
  • Landlord's Representative: Thomas Galo - Winick Realty Group
  • Tenant's Representative: Kim Levandovsky - Retail By Mona
  • Lease Term: 10 Years
  • Lease Type: Modified Gross Lease

The deal features key individuals including Thomas Galo representing the landlord, Avdoo & Partners Development, and Kim Levandovsky representing the tenant, Overgreens. Their involvement highlights the significance of professional representation in the leasing process.

Players

Kim Levandovsky

Retail By Mona

Broker

$49M

vol

17 deals

Broker

Brooklyn Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

63452.00%

Cash-on-Cash

-18134.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93